How does accounting provide useful information about economic activities?

Q: Discuss the history of Accounting?

A: Italy, birthplace of many of the world's most important historical figures like Michelangelo,…

Q: History of accounting?

A: What's the essence of the Accounting Profession ? :- it hasn't changed much over the time.…

Q: Describe the reasons why financial accounting is useful?

A: Financial accounting is a specific branch of accounting involving a process of recording,…

Q: What are the basic foundation of Accounting?

A: Accounting: Accounting is the practice of documenting financial transactions that occur in the…

Q: What are the basics of Accounting?

A: Accounting: Accounting is a system, or a process of collecting and organizing economic transactions,…

Q: What does the accounting equation show?

A: An accounting equation shows the relationship between Assets, Liabilities and Equity of a entity. It…

Q: What is the basic accounting equation?

A: Basic Accounting Equation: The mathematical equation which shows the relationship among the…

Q: what is accounting?explain it.

A: A business needs quantitative record of its over financial performance and financial position in…

Q: What is the significance of accounting to people?

A: SOLUTION-   ACCOUNTING TO PEOPLE  MEANS ACCOUNTING TO USERS . THERE ARE SOME USERS OF ACCOUNTING ARE…

Q: What is financial accounting process

A:

Q: What is the purpose of an accounting system?

A: Accounting is an art of systematic recording, classifying and summarising financial transactions…

Q: What is the purpose of reporting accounting theory?

A: This question explains about the purpose of reporting accounting theory

Q: What do you mean by materiality concept in accounting?

A: Materiality concept:Materiality concept refers to a condition wherein, the financial information of…

Q: How does financial accounting perform its fundamental function?

A: This question clarifies how financial accounting carries out its primary duty.

Q: What is a mathematical equation in accounting? Which financial statement contains information on the…

A: This question tells about mathematical equation in accounting and  financial statement contains…

Q: what is the function of accounting cycle?

A: Bookkeeping means recording the transactions which have any monetary value. It is the business…

Q: What are the basic accounting rules?

A: Introduction: To understand the golden principles of accounting, you must first learn everything…

Q: What is the accounting cycle?

A: Accounting cycle means the process of collecting, processing and reporting of the financial…

Q: What is financial accounting?

A: Meaning of financial accounting:Financial accounting is one of the branches of accounting that…

Q: The basic purpose of accounting is to provide information about economic activities intended to be…

A: Accounting is a system meant for measuring business activities, processing of information into…

Q: What is meant by “economic Consequences” in accounting standard-setting

A: Definition: Financial accounting standards board (FASB): This is the organization that creates,…

Q: Explain the relationship of Social and Economic Accounting to Financial What are the features of the…

A: Answer: Social and economic accounting and financial are all related with each other. The basic…

Q: Who are the users of accounting information?

A: Users of accounting information means the stakeholders that will use the accounting information for…

Q: What are the Elements of the accounting equation? Describe about it.

A: Accounting equation: Accounting equation is an accounting tool expressed in the form of equation, by…

Q: To what end does financial accounting serve?

A: The end of financial accounting is to provide business with the financial performance and financial…

Q: What Is The Primary Objective Of Financial Accounting?

A: Financial accounting: Financial accounting is the process of measuring the business activities of an…

Q: Define principles of Accounting?

A: Accounting is a way of recording money related transactions in the financial statements of an…

Q: DEFINE AND EXPLAIN  ACCOUNTING THEORY

A: Accounting refers to the process of keeping records of financial events and transactions happening…

Q: What are the accounting concept?

A: Solution:- Introduction:- Accounting concepts are defined as basic assumptions on the basis of which…

Q: Is accounting theory really necessary for the making of accounting rules?

A: Solution:- Is accounting theory really necessary for the making of accounting rules:- Accounting…

Q: Explain the Accounting Equation?

A: The accounting equation is the foundation of the balance sheet as well as the fundamental premise of…

Q: Can you explain the basic accounting equation?

A: The basic accounting equation represents the relationship between assets,liabilities and…

Q: What is accounting? Explain and debate the accounting rules and assumptions.

A: Introduction : Accounting is the process of recognizing, documenting, summarizing, analyzing,…

Q: What is meant by accounting

A: Accounting refers to an art of recording transaction in the books of a company and using these…

Q: Accountants refer to an economic event as a

A: The accountant is the person that keeps a record of all transactions of the company. The accountant…

Q: what is the accounting equation?

A: Accounting: It is defined as a process of gathering, recording, summarizing, analyzing, and…

Q: Is internal accounting information primarily historical orfuture-oriented? How does that compare…

A:

Q: What are the strategies of Accounting Theory?

A: It involves the assumptions that guides the reporting and recording.

Q: How would you define the accounting equation

A: Accounting is described as the process of obtaining, documenting, summarizing, evaluating, and…

Q: what makes up accounting theory

A: An accounting theory is a notion that uses speculations, methodologies and frameworks in the study…

Q: What is the relationship among economics, finance, and accounting?

A: Accounting, finance and social science are all connected fields, and every one typically specialize…

Q: What is accounting explain briefly?

A: Accounting means the process of recording the transaction , posting , summarizing , interpreting and…

Q: What is the accounting equation? Which financial statement reports the accounting equation?

A: The accounting equation is the formula used to capture the effect of the relationship of financial…

Q: explain.

A: Last-in, first-out (LIFO) is an expression that stands for last-in, first-out. It's an inventory…

Q: Economic income

A: Accounting income is the amount of income transferred from the balance of income statement to…